Not actually having the full amount of capital…Michael Saylor On Bitcoin Today… so with anything that you’re discovering please do study the platform do not just assume due to the fact that i utilize it that you can utilize it immediately do some due diligence have a little experiment with it even invest with virtual cash they consider that choice too so you in fact get used to the structure of the site and then when you’re ready to utilize your own money to invest you can do so now i will disclaim of course your capital is at danger this is investing we’re doing you’re buying genuine companies if you choose to in this specific video we’re talking about how to copy other people’s financial investments with your money so obviously your capital is at risk and we need to bear that in mind do not simply do something since that individual has said they’ve made earnings 14 months in a row purchase these choices since you think is the right ones for you which being stated let’s dive directly in [Music] The things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it’s part of social trading which is one element that is most likely.
famous for it’s the alternative to see what other traders are doing incredible we do not generally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that implies with our cash we can actually say i want to do precisely what that trader is doing or match that precise portfolio of options and generally every time they make a trade they buy they offer whatever they do your money will be simulated with it so that implies if for example 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the fees involved really critical you understand what are the costs of this now with any platform there will be some expense to undoubtedly these are genuine companies that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even a few of the no fee sites then might not charge you for in fact buying and selling etfs or funds specific commodities individual stocks.
there’ll be charges on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of fees associated so do your due diligence and i’m going to show you the fees with in particular in this video the next would be things to understand prior to you in fact begin buying copy trading or copy portfolios and finally some finest guidance best practices if you are thinking about this as a tool whether you start your journey or your advanced financier so let’s kick off with fees really essential to understand these now on there’s a number of charges there isn’t fees to do with actually buying and selling all right so commission charges are totally free however there are a number of other costs the very first one is withdrawal charges so you can clearly put cash in now if you remain in the uk we put our uk money.
and it’s instantly converted into us dollars and i’ll cover a little point about that in the future however when you wish to withdraw your money so you sell your shares you sell your products whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me obviously knowing that i’m going to make sure that i’m just withdrawing when i definitely need to now you might state alright that’s quite expensive and i get that however it’s all to do with how they run their platform they need to charge fees someplace and withdrawal fees are just one of those alternatives that they have a great deal of platforms clearly are totally free to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year when every 6 months you understand depends entirely how you’re investing however that is a cost to bear in mind the 2nd charge that i have actually touched upon is that conversion charge now with you’re handling us dollars only there’s not a choice to purchase in euros or uk and that’s fine that matches me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or even some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you utilize anyone so if you’re using trading 2 and two free trade anybody this is basic they have i expect stuck with whatever cost they charge for that conversion rate you type of need to accept you understand if you want to use their platform go from uk to us then that conversion charge is there what are they in fact giving you in terms of your uk pounds to us dollars and all platforms are the same you can’t bargain with them you can’t go to the bank and say offer me us dollars instead you need to pay their fees now the excellent aspect of though when you have actually converted your cash you do not have to invest it right away that dollar value can sit in your portfolio as cash dollars for as long as you like so that implies the preliminary day that you buy or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional costs so that’s really great using that part of their website won’t certainly restrict you in any way however we have to know 2 other charges the very first being what’s called spread costs okay and i’m going to reveal you what i suggest on now a spread charge as i’m going to show you Michael Saylor On Bitcoin Today.
You are provided numerous options with this software application and you can configure it however you see fit. If you’re looking to start trading the forex market but do not know which system to select, then this may be exactly what you need.